Weekly Summary

Weekly cryptocurrency market brief: news surrounding crypto market manipulation and more

In today’s column of your weekly cryptocurrency market brief, we cover the reason why top crypto influencers support a probe into price manipulations. in other news, we look into some reasons why bitcoin is here to stay, and much more.

Top figures in the market support probe into price manipulation

Mike Novogratz is among the many large-scale investors that support this move as he welcomed the investigations. Additionally, key figures in the industry such as Cameron Winklevoss and Tom Lee announced their support for this move. The main reason is that this marks the beginning of the much needed regulatory oversight. As such, this will serve to foster a rules-based marketplace and prevent bad actors from controlling the industry.

John McAfee predicts bitcoin will hit $15,000 by June

Through a tweet, John McAfee stated that the market is bound to turn before June 12th. He added that his algorithms had predicted Trump’s June 12th date and that if this is wrong, he will eat his dick.

A crypto-based hiring platform supports instant pay option

Laborx, a global job platform, has offered to cut out banks and pay their workers in real-time using cryptocurrency. The platform will pay workers as they work so that they can start spending on their way home.

Bank of England governor supports the idea of cryptocurrency central bank

Mark Carney, stated that he has an open mind towards the idea. However, he stressed that any such adoption would not take place soon since cryptocurrencies do not constitute money.

2 reasons why Bitcoin is here to stay

First, bitcoin has experienced significant adoption from the mainstream financial institutions. For instance, just recently NASDAQ and Gemini entered into a partnership to make use of their bitcoin trading infrastructure.

Second, bitcoin is at the forefront of the Fintech revolution. As a result, more remittance platforms in Africa are now offering bitcoin products.

From this column of weekly cryptocurrency market brief, do you think that market manipulation should be made illegal?

Share your thoughts in the comment section below

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coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

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